International Financial Reporting Standards

CRH publishes IFRS to U.S. GAAP transition information

Retrieved on: 
Wednesday, February 7, 2024
Professional Services, Environmental, Social and Governance (ESG), Other Construction & Property, Commercial Building & Real Estate, Construction & Property, Urban Planning, Landscape, International, International Financial Reporting Standards, CRH plc, Cryptocurrency

CRH plc, the leading provider of building materials solutions, today announces the impact of the transition to generally accepted accounting principles in the United States of America (U.S. GAAP) on its results previously prepared in accordance with International Financial Reporting Standards (IFRS) for the financial years ended December 31, 2021 and December 31, 2022.

Key Points: 
  • CRH plc, the leading provider of building materials solutions, today announces the impact of the transition to generally accepted accounting principles in the United States of America (U.S. GAAP) on its results previously prepared in accordance with International Financial Reporting Standards (IFRS) for the financial years ended December 31, 2021 and December 31, 2022.
  • Equivalent transition impact disclosures will be provided for the financial year ended December 31, 2023 on February 29, 2024.
  • Please note that the Company's most recently published outlook guidance provided to the market on November 21, 2023, in respect of the year ended December 31, 2023, was issued on an IFRS basis.
  • Financial restatements under U.S. GAAP for full-year 2021 and 2022, including IFRS to U.S. GAAP reconciliations, are now available on www.crh.com .

Lesaka delivers improved profitability as it exceeds FY24 Q2 guidance

Retrieved on: 
Tuesday, February 6, 2024
EPS, ATM, Net, GAAP, International, Foreign, Consumer, Tax, Adjustment, Investment, Loss, Depreciation, EPE, International Financial Reporting Standards, Acquisition, Sale, Sarbanes–Oxley Act, Merchant, Webcast, Insurance, Eastern Time Zone, Bookkeeping

Merchant Division revenue was $127.9 million in Q2 2024, up 13% compared to Q2 2023 in ZAR.

Key Points: 
  • Merchant Division revenue was $127.9 million in Q2 2024, up 13% compared to Q2 2023 in ZAR.
  • Connect records a significant proportion of its airtime sales in revenue and cost of sales, while only earning a relatively small margin.
  • Our Segment Adjusted EBITDA margin (calculated as Segment Adjusted EBITDA divided by revenue) for Q2 2024 and Q2 2023 was 6.8% and 7.6%, respectively.
  • Consumer Division revenue was $16.7 million in Q2 2024, 16% higher in ZAR compared to Q2 2023.

ISC Announces Annual Guidance and Management Update for 2024

Retrieved on: 
Monday, February 5, 2024
Section 8, ISC, Growth, International, Retirement, Extension, Public expenditure, Investment, International Financial Reporting Standards, Acquisition, CPI, Analysis, Management

Services will continue to be a significant part of our organic growth, with a forecasted increase in transactions and the number of customers.

Key Points: 
  • Services will continue to be a significant part of our organic growth, with a forecasted increase in transactions and the number of customers.
  • Our Technology Solutions segment is also forecasted to see double-digit growth as we deliver on existing and new solutions delivery contracts in 2024.
  • The key drivers of expenses in adjusted EBITDA in 2024 are expected to be wages and salaries and cost of goods sold.
  • ISC also announces the upcoming retirement of Ken Budzak, Executive Vice President, Registry Operations, effective May 2024.

Exco Technologies Limited Announces Results for First Quarter Ended December 31, 2023

Retrieved on: 
Wednesday, January 31, 2024
EPS, Plant, Growth, Aluminium, Consolidated, ESG, OEM, Pressure, International, Absorption, Welding, PIN, Tax, Capital expenditure, Public expenditure, COVID, Carbon, Marketing, Investment, UAW, Casting, Corporation, Management, Depreciation, Net income, EURO, International Financial Reporting Standards, Exco, Free cash flow, Conference call, Sale, Original equipment manufacturer, Share repurchase, Extrusion, Conference, Movement

Consolidated sales for the first quarter ended December 31, 2023 were $156.7 million compared to $139.1 million in the same quarter last year – an increase of $17.6 million, or 13%.

Key Points: 
  • Consolidated sales for the first quarter ended December 31, 2023 were $156.7 million compared to $139.1 million in the same quarter last year – an increase of $17.6 million, or 13%.
  • Adjusting for the strike impact, sales were up at all four of the segment’s locations compared to the prior year quarter.
  • The effective income tax rate was 23.6% in the current quarter compared 22.7% in the same quarter last year.
  • Non-cash working capital consumed $3.6 million of cash in the quarter compared to $3.4 million in the same quarter last year.

CGI reports first quarter Fiscal 2024 results

Retrieved on: 
Wednesday, January 31, 2024
EDGAR, EPS, GIB, Consultant, International, Tax, Adjustment, Investment, TSX, Hand, CGI, International Financial Reporting Standards, Acquisition, Issuer, Bank statement, Buy, Security (finance)

MONTRÉAL, Jan. 31, 2024 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB)

Key Points: 
  • MONTRÉAL, Jan. 31, 2024 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB)
    "CGI began fiscal year 2024 in a strong position, again demonstrating the resilience of our model and the disciplined execution of our plan," said George D. Schindler, President and Chief Executive Officer.
  • CGI's outcome-based offerings, particularly those focused on generating cost savings and accelerating modernization—including through AI—continue to resonate with clients.
  • Our robust balance sheet, further strengthened in the quarter by the operational and delivery excellence of our team, enables us to continue driving our build and buy profitable growth strategy."
  • For the first quarter of Fiscal 2024, the Company reported revenue of $3.60 billion, representing a year-over-year increase of 4.4%.

Okeanis Eco Tankers Corp. – Commercial Update

Retrieved on: 
Monday, January 22, 2024
TCE, Employment, International Financial Reporting Standards, International, Daily, GAAP, ECO, VLCC, Dry cleaning

ATHENS, Greece, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (the “Company” or “OET” or “Okeanis”) (NYSE:ECO / OSE:OET), announced the following commercial update:

Key Points: 
  • ATHENS, Greece, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (the “Company” or “OET” or “Okeanis”) (NYSE:ECO / OSE:OET), announced the following commercial update:
    For Q4 2023, as of the date of this release, the Company anticipates:
    Estimated fleetwide Daily Time Charter Equivalent Rate (“Daily TCE Rate”) of approximately $45,300 per operating day.
  • Estimated Suezmax Daily TCE Rate of $45,500 per operating day, including 147 days fixed on time-charter on two vessels; Estimated Suezmax Daily TCE Rate of $51,800 per operating day relating solely to Suezmax spot days.
  • Approximately 41% of the available Suezmax spot days have been booked at an average Daily TCE Rate of $59,300 per operating day.
  • The following table sets forth our computation of Daily TCE Rate, including a reconciliation of revenues to the Daily TCE Rate for Q4 2023:

Chunghwa Telecom Reports 2024 Guidance

Retrieved on: 
Friday, January 26, 2024
PP, Income tax, Bank statement, Forecasting, International Financial Reporting Standards, Asset, Chunghwa Telecom, International, Prospectus, Sale, Note 2, PP&E, F-3, Depreciation, Financial Supervisory Commission, Bank

Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.

Key Points: 
  • Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
  • In addition to the consolidated financial results prepared under T-IFRSs, Chunghwa Telecom also provide non-GAAP financial measures, including "EBITDA".
  • Further, these non-GAAP financial measures may be unique to Chunghwa Telecom, as they may be different from non-GAAP financial measures used by other companies.
  • As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company's results to the results of other companies.

New Oriental Announces Results for the Second Fiscal Quarter Ended November 30, 2023

Retrieved on: 
Wednesday, January 24, 2024
Accounting, Federal Reserve, Research, International Financial Reporting Standards, Conference call, City, International, Share repurchase, School, RMB, Executive, Growth, Public expenditure, RSVP, GAAP, H.10, ADS, Investment, Translation, EPS, Conference, PIN, Quality control, Marketing, Security (finance)

Moreover, it is also encouraging that our new educational business initiatives have sustained promising results in this fiscal quarter, with 68.3% revenue growth year over year.

Key Points: 
  • Moreover, it is also encouraging that our new educational business initiatives have sustained promising results in this fiscal quarter, with 68.3% revenue growth year over year.
  • By the end of this fiscal quarter, our total number of schools and learning centers increased to 843.
  • Financial Results for the Second Fiscal Quarter Ended November 30, 2023
    For the second fiscal quarter of 2024, New Oriental reported net revenues of US$869.6 million, representing a 36.3% increase year over year.
  • Net operating cash inflow for the second fiscal quarter of 2024 was approximately US$300.6 million and capital expenditures for the quarter were US$43.4 million.

Metro Vancouver Properties Corp. announces the results for the three months ended November 30, 2023

Retrieved on: 
Saturday, January 13, 2024
ATRA, CRA, International Financial Reporting Standards, International, Tax court, Comprehensive, TCC, Tax, Canada Revenue Agency, Life insurance

VANCOUVER, British Columbia, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Metro Vancouver Properties Corp., a Vancouver-based real estate company announces the results of operations for the three months ended November 30, 2023.

Key Points: 
  • VANCOUVER, British Columbia, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Metro Vancouver Properties Corp., a Vancouver-based real estate company announces the results of operations for the three months ended November 30, 2023.
  • The results reported are pursuant to International Financial Reporting Standards (IFRS) for public companies.
  • Also included in net loss is a net loss on the fair value adjustment on investment properties of approximately $8.7 million (2022: $4.5 million).
  • The Madison Appeal was heard by the Tax Court of Canada (the “TCC”) in 2020, 2022 and 2023.

Madison Pacific Properties Inc. announces the results for the three months ended November 30, 2023 and declares dividend

Retrieved on: 
Saturday, January 13, 2024
ATRA, CRA, MPP, MPC, International Financial Reporting Standards, International, Tax court, Comprehensive, Class, TCC, Tax, Canada Revenue Agency, TSX, Life insurance

VANCOUVER, British Columbia, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Madison Pacific Properties Inc. (the Company) (TSX: MPC and MPC.C), a Vancouver-based real estate company announces the results of operations for the three months ended November 30, 2023 and declares dividend.

Key Points: 
  • VANCOUVER, British Columbia, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Madison Pacific Properties Inc. (the Company) (TSX: MPC and MPC.C), a Vancouver-based real estate company announces the results of operations for the three months ended November 30, 2023 and declares dividend.
  • Also included in net loss is a net loss on the fair value adjustment on investment properties of approximately $8.0 million (2022: net gain of $0.3 million).
  • The decision denied Madison Pacific Properties Inc.’s ability to use certain carryforward losses for certain taxation years within its 2009 to 2017 taxation years.
  • As at November 30, 2023, the Company owns approximately $687 million in investment properties, including the Company’s proportionate share of properties held through joint operations.